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Save your seatXLU slipped from roughly $46.20 in mid-March to $44.43 now as higher Treasury yields cooled the defensive-yield trade in utilities.
If the ETF loses $44, it has the potential to fade toward the $42.50 to $43.00 area. Another leg higher in long-term yields would likely speed up that downside.
If XLU holds the $44.00 to $44.50 area and buyers rotate back into defensive yield names, a move toward $46.50 is on the table. Resistance near $45.35 is the first hurdle.
We don't currently have information about State Street Utilities Select Sector SPDR ETF's earnings.